Overview
- HKEX has challenged at least five companies seeking to pivot to digital-asset treasury models, citing cash-company rules that can trigger share suspensions.
- Australia’s ASX bars listed firms from holding 50% or more in cash-like assets and urges would-be Bitcoin investors to use ETFs, with one ASX-listed company shifting its listing to New Zealand’s NZX.
- The Bombay Stock Exchange rejected Jetking Infotrain’s share-listing plan after it earmarked proceeds for crypto, and the company is appealing the decision.
- Index provider MSCI has proposed excluding large crypto-treasury firms from its benchmarks, including a suggested bar for companies with crypto equal to 50% or more of total assets.
- DAT buying and related share gains have cooled, with 10X Research estimating about $17 billion in retail losses tied to these trades as volatility increased.